[extropy-chat] Re: Seven cents an hour? (was: Riots in France)

[gts]

On Thu, 17 Nov 2005 13:29:01 -0500, Rafal Smigrodzki  
<rafal.smigrodzki at gmail.com> wrote:

> On 11/17/05, gts <gts_2000 at yahoo.com> wrote:
>> On Thu, 17 Nov 2005 11:47:45 -0500, Rafal Smigrodzki
>> <rafal.smigrodzki at gmail.com> wrote:
>>
>> > ### No, it's you who are ignorant of basic economics. In a competitive
>> > economy, price is the measure of efficiency, period. Just learn this
>> > simple fact.
>>
>> Where do you get that idea, Rafal?
>
> ### Econ 101.

I think I understand your confusion, Rafal. You're confusing your micro  
and macro economics. In an efficient free market, prices for a good or  
service will be lower than otherwise, but this does not mean companies  
that sell at lower prices are necessarily more efficient.

-gts